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what about the chart earliert that every time there is a big pump, push of money into the economy it is like you put the money in and the market goes up. what happens? you are saying it may not go down sharply. what happens when it goes away? >> it will bounce around a while. this activity that the fed is involved in, buying these bonds they make stocks look cheaper and people want to get in on stocks. every time the fed has done this. the fundamentals are not that bad. corporate profits are not that bad. if the fed does it right and slowly and take the drugs away in a methodical way stocks will find equilibrium again. in the interim we will have days like this where traders look and try to figure it out. it is unprecedented territory, the fed to be doing this. it is just going to be a rocky ride. there is a chance they mess it up and stocks chance. the chances of that are very slim. >> thank you very much. we will have a new fed chief because ben burn naernanke says getting out. >>> tonight outfront we have an exclusive piece of video of something that happened inside that home. it
what about the chart earliert that every time there is a big pump, push of money into the economy it is like you put the money in and the market goes up. what happens? you are saying it may not go down sharply. what happens when it goes away? >> it will bounce around a while. this activity that the fed is involved in, buying these bonds they make stocks look cheaper and people want to get in on stocks. every time the fed has done this. the fundamentals are not that bad. corporate profits...
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Jun 20, 2013
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does, which is track the economy, because corporate profits are so linked to the economy. interest rates are spiking. you've seen that in mortgages. for people at home if you have a mortgage and you're looking at buying a home or able to do the refinancing, you want to seize the moment before interest rates start to move sharply higher. >> andy, what do you make of the fact that interest rates are up and the place of gold has plummeted? >> you have to look at yesterday as a turning point and we've been waiting for this for years. the fed has been injecting $2.5 trillion cumulatively into the market since 2008. five years. we kept waiting. at some point they're going to turn and say go on your own, we'll take the training wheels off and you guys can do it on your own. gold, people were speculating that this was a safe harbor. now that the u.s. economy perhaps is doing better, selling off gold, the dollar is rising, there's all sorts of turmoil on the markets right now. of course the stock market and interest rates are the two big ones for people watching at home. >> lastly,
does, which is track the economy, because corporate profits are so linked to the economy. interest rates are spiking. you've seen that in mortgages. for people at home if you have a mortgage and you're looking at buying a home or able to do the refinancing, you want to seize the moment before interest rates start to move sharply higher. >> andy, what do you make of the fact that interest rates are up and the place of gold has plummeted? >> you have to look at yesterday as a turning...
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Jun 21, 2013
06/13
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well, the answer is economy t economy's getting better and, in some places, it is booming. dean reynolds reports tonight from one of those places in minnesota. >> reporter: it's a short bike ride to work for chris dillman, but time enough for him to count the blessings of living where unemployment is 3%-- less than half the national average. >> thank you for calling. >> reporter: he works as a technical support specialist for digi-key, an electronic parts distributor for smart phones whose growth exploded after its switched from mail order to internet sales. is do you feel fortunate that you got a job here? >> yeah, i'm fortunate! (laughs) i'm not here because of just the money. it's the other things. it's the small town atmosphere. the way that you can walk down the street, you can strike up a conversation, that type of mentalqw. >> reporter: he's talking about thief river falls, or t.r.f. as they call it around here. population 8,500 and counting. digi-key will hire 150 workers this year. neighboring arctic cat has expanded its product line from snowmobiles to all terrain
well, the answer is economy t economy's getting better and, in some places, it is booming. dean reynolds reports tonight from one of those places in minnesota. >> reporter: it's a short bike ride to work for chris dillman, but time enough for him to count the blessings of living where unemployment is 3%-- less than half the national average. >> thank you for calling. >> reporter: he works as a technical support specialist for digi-key, an electronic parts distributor for smart...
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Jun 20, 2013
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we're now on round three of what i call, you know, pumping money into the economy. they call it quantitative easing. with their noses in the air. each of the new rounds has caused stocks to move higher. starting later this year, the fed will take the drugs away and may cut the addicts off entirely next year. ben white, chief economic correspondent for politico. ben, thank you. so people -- he comes out and says things are getting better. >> and the stock market tanks. >> you say what's wrong with these crazy people on wall street? americans say -- 44% of americans say they're worse off than they were a year ago. >> i think what it means for people who have a house who might want to refinance it, they should probably do it, because interest rates will go higher if the fed stops doing all this drug giving to the economy. so if you're going to refinance, do it now. if you're looking at a new home purchase, do it sooner than later. but in terms of stocks, hold on to them. wait this out. it's going to be crazy while the market tries to figure out when the fed will take t
we're now on round three of what i call, you know, pumping money into the economy. they call it quantitative easing. with their noses in the air. each of the new rounds has caused stocks to move higher. starting later this year, the fed will take the drugs away and may cut the addicts off entirely next year. ben white, chief economic correspondent for politico. ben, thank you. so people -- he comes out and says things are getting better. >> and the stock market tanks. >> you say...
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Jun 20, 2013
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fear that all of the easy money ben bernanke has been plowing into the economy to prop it up to prevent a depression is going to start drying up. the chief market strategist at knight capital group. peter, i guess the big question is, two days, nearly 4%. you know, that makes people afraid. and it should make people afraid. the question is, is this temporary or something that could get worse and worse? >> it's a real wake-up call. i do think this is a short-term trend. given that, we are in a period of volatility. since chairman bernanke did mention tapering back in may, which is where we had our highs -- >> meaning i'm going to eventually stop giving you this free money. >> we've seen a the lot of volatility in the market, more than we've seen all year. and sideways to lowered the last two days, significantly lower, this probably more work to do on the down side in the near term, but this is actually something that's needed. a pullback is needed. we need to get back to more compelling valuations in the indexes and stocks generally speaking. so it's not as if this is completely destruct
fear that all of the easy money ben bernanke has been plowing into the economy to prop it up to prevent a depression is going to start drying up. the chief market strategist at knight capital group. peter, i guess the big question is, two days, nearly 4%. you know, that makes people afraid. and it should make people afraid. the question is, is this temporary or something that could get worse and worse? >> it's a real wake-up call. i do think this is a short-term trend. given that, we are...
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Jun 20, 2013
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growing more than 20% that is more than double the rate of the economy. so the decision not to inject more cash basically tells the market that liquidity will be tightened to slow down credit growth. patrick at silver crest asset management a long time china watcher says the impact will be serious. he says in a statement to fox business. if the bank of china injections emergency cash into the banking system the next day or so, wealth management products that lent money to banks in the interbank market will start to see massive defaults. he also tells me that he thinks that this will, this will not last for very long but in the end they will see the defaults start happening and chinese government will inject. but they could fix all this by pumping money into the system that would reinforce the runaway credit issue we were talk about earlier. if they pump more money in they risk creating a bigger burden of bad debt. basically the take home.this is self-inflicted. it's a state controlled crisis. it's a risky move for an economy that is already shrinking but
growing more than 20% that is more than double the rate of the economy. so the decision not to inject more cash basically tells the market that liquidity will be tightened to slow down credit growth. patrick at silver crest asset management a long time china watcher says the impact will be serious. he says in a statement to fox business. if the bank of china injections emergency cash into the banking system the next day or so, wealth management products that lent money to banks in the interbank...
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Jun 21, 2013
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i'll worry about the economy more than a few times before they're grown. but it's for them, so i've found a way. who matters most to you says the most about you. at massmutual we're owned by our policyowners, and they matter most to us. ready to plan for your future? we'll help you get there. we know it's your videoconference of the day. hi! hi, buddy! that's why the free wifi and hot breakfast are something to smile about. book a great getaway now and feel the hamptonality [ whirring ] [ dog barks ] i want to treat more dogs. ♪ our business needs more cases. [ male announcer ] where do you want to take your business? i need help selling art. [ male announcer ] from broadband to web hosting to mobile apps, small business solutions from at&t have the security you need to get you there. call us. we can show you how at&t solutions can help you do what you do... even better. ♪ outer circle where we reach out to our sources around the world. tonight we go to china the government is eager to flex its muscles in space. the time an astronaut teaches a physics
i'll worry about the economy more than a few times before they're grown. but it's for them, so i've found a way. who matters most to you says the most about you. at massmutual we're owned by our policyowners, and they matter most to us. ready to plan for your future? we'll help you get there. we know it's your videoconference of the day. hi! hi, buddy! that's why the free wifi and hot breakfast are something to smile about. book a great getaway now and feel the hamptonality [ whirring ] [ dog...
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Jun 21, 2013
06/13
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the economy is getting substantially better. whether it's housing, financials. gdp, employment numbers. the trends are positive. as a direct result, it's more difficult for chairman bernanke to justify mover stimulus. >> so a stronger economy may be better for all of us. >> exactly. >> it may be bad for some wealthy people on wall street. that's. okay. all right. thank you very much. i appreciate your time as always, good to see you, peter. >>> our other top story is negotiating with terrorists. the taliban is offering to exchange the only known american prisoner of war in afghanistan. sergeant bill bergdorf. one person for five people. previous talks stalled back in 2012. i want to keep in mine here, the taliban is classified by the united states as a quote/unquote specially designated global terrorist entity. many american officials have long maintained the united states does not negotiate with terrorists. the obama negotiation says peace talks between the u.s. and taliban will likely be held in the next few days. they expect the prisoner exchange to be on the
the economy is getting substantially better. whether it's housing, financials. gdp, employment numbers. the trends are positive. as a direct result, it's more difficult for chairman bernanke to justify mover stimulus. >> so a stronger economy may be better for all of us. >> exactly. >> it may be bad for some wealthy people on wall street. that's. okay. all right. thank you very much. i appreciate your time as always, good to see you, peter. >>> our other top story is...
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, and what he said yesterday, perhaps what he didn't say, is that when the economy improves they'll be stepping away from that program. what we're seeing today is when you go off drugs, withdrawal is hard and these are the first stages of withdrawal. but they're not off the drugs completely and they won't be for a while. the other fear, tamron, is where is ben bernanke going and who will be his successor? everyone is expecting he will be stepping down in january. there's been so much money involved. how will it look when the government starts to unwind from its position in the u.s. markets and who will be the person that will be doing that? there are a lot of questions right now. >> it looks like the dow is on its way to having its worst day since april 15th. thank you, kayla. >>> dramatic day in boston where helicopters have been following nfl star aaron hernandez' every move. he's been questioned in connection with a homicide. police have not made him a suspect, we want to stress that, and no arrests have been made right now. the new england patriots' tight end spent part of the day
, and what he said yesterday, perhaps what he didn't say, is that when the economy improves they'll be stepping away from that program. what we're seeing today is when you go off drugs, withdrawal is hard and these are the first stages of withdrawal. but they're not off the drugs completely and they won't be for a while. the other fear, tamron, is where is ben bernanke going and who will be his successor? everyone is expecting he will be stepping down in january. there's been so much money...
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i'll worry about the economy more than a few times before they're grown. but it's for them, so i've found a way. who matters most to you says the most about you. at massmutual we're owned by our policyowners, and they matter most to us. ready to plan for your future? we'll help you get there. radio: it's mattress discounters' radio: it's mattress discounters' 4th of july sale. bulldog: that cloud reminds me... radio: the tempur-pedic cloud collection... dog: that's it! radio: ...now with 48 months interest-free financing. basset hound: free financing? radio: the 4th of july sale is on now... bulldog: hey... where's everyone going? ♪ mattress discounters >>> in qatar, five people were found guilty today of death by negligence. this is a tragic fire that happened that killed 19 people including 13 toddlers. the fire happened in may of last year at a day care center in a mall in doha. >> it was all smoke in mirrors when it came down to safety. one of those convicted and sentenced to prison is a member of qatar's royal family actually. more on the story from
i'll worry about the economy more than a few times before they're grown. but it's for them, so i've found a way. who matters most to you says the most about you. at massmutual we're owned by our policyowners, and they matter most to us. ready to plan for your future? we'll help you get there. radio: it's mattress discounters' radio: it's mattress discounters' 4th of july sale. bulldog: that cloud reminds me... radio: the tempur-pedic cloud collection... dog: that's it! radio: ...now with 48...
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does it end up withdrawing the stimulus from the economy before the economy is ready and really the jury is out on just how strong growth is right now. >> earlier this week president obama seemed to signal that bernanke was going to leave. bernanke seemed to confirm that in his remarks yesterday. what are you hearing? >> i think the story is the president probably misspoke but probably was late more honest than he wanted to to be in the sense that i believe the market believes bernanke is leaving at the end of his term at the end of january next year. i think that's been the anticipation out there. the president really kind of confirmed that. he tried to walk back the idea that he was insulting and disrespecting bernanke, but they didn't in the background conversations walk back that bernanke is leaving. i don't know the market is incredibly spooked by that in that there seemed to be a number of people that could be considered that would probably continue the policies of the current chairman. >> steve leisman from cnbc headquarters, we appreciate it, thank you. >>> three naval academy fo
does it end up withdrawing the stimulus from the economy before the economy is ready and really the jury is out on just how strong growth is right now. >> earlier this week president obama seemed to signal that bernanke was going to leave. bernanke seemed to confirm that in his remarks yesterday. what are you hearing? >> i think the story is the president probably misspoke but probably was late more honest than he wanted to to be in the sense that i believe the market believes...
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Jun 21, 2013
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but we don't believe you that if you take away the stimulus this economy won't be able to stand on its own two feet. until we see otherwise we are going to be concerned that this low trajectory economy can be at risk of dangerous down draft. >> we knew it would impact sometime that the fed would have to dial back on the bond buying spree 85 billion a month taking the foot off the it was pedal. the food news these can lead to buying opportunities. may be something of a rebound today. dow futures are up. >> doug luzader live in washington, thank you. >> it is the first day of summer and we are kicking it off with extreme weather. >> maria molina is in our weather center tracking heavy rains in parts of the country. hi maria. >> good to see you. thank you for having me in the studio. which are talking about extreme weather across parts of the north central u.s. including states like minnesota, the dakotas and as we head into parts of iowa and nebraska large hail damaging winds and isolated tornadoes being a concern. take a look atom. we kickoff the weekend with similar conditions. more sh
but we don't believe you that if you take away the stimulus this economy won't be able to stand on its own two feet. until we see otherwise we are going to be concerned that this low trajectory economy can be at risk of dangerous down draft. >> we knew it would impact sometime that the fed would have to dial back on the bond buying spree 85 billion a month taking the foot off the it was pedal. the food news these can lead to buying opportunities. may be something of a rebound today. dow...
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>> the economy is healing. we are seeing a very modest recovery that has lasted as long as most recoveries and potentially collapse along because it has been some modest. this shows a lot of basically capacity in the system and the fact is real-estate is recovering very late in the cycle which is unusual, it is usually the beginning of a cycle and that is one of the things that is helping to begin to turn to extend this recovery longer. dennis: peter schiff -- you have been telling us for years to buy gold and gold is down 27% or 30% from its recent highs, why is gold down today? why is it not a safe haven when stocks are plunging? >> people and making the mistake by selling their goal. doesn't only goal of. people doing the wrong thing, people are misinterpreting what is happening in the economy like your guest is. the economy is not recovering. it is in worse shape than it was before the fed began this crazy experiment. always manage to do with record amounts of stimulus is blow a little air back into a defla
>> the economy is healing. we are seeing a very modest recovery that has lasted as long as most recoveries and potentially collapse along because it has been some modest. this shows a lot of basically capacity in the system and the fact is real-estate is recovering very late in the cycle which is unusual, it is usually the beginning of a cycle and that is one of the things that is helping to begin to turn to extend this recovery longer. dennis: peter schiff -- you have been telling us for...
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saying the plan will improve the economy. the good question this morning is what's stopping lawmakers in the house from passing bipartisan reform? we want to bring in our gaggle now. liz from the associated press. aei visiting fellow, from the national review, bloomberg views. and democratic strategist chris is here as well. let's start with immigration if we can very quickly. i want to get a sense from you off the bat. was it the -- >> i think there's no question that supporters are using it is cbo score to say this is a fiscally responsible piece legislation. the opponents are saying cbo says this is only a 25% reduction in illegal immigration. wasn't getting control of the borders the whole point of the exercise? >> is this getting enough votes and putting enough pressure on john boehner? what decision does he make? >> i'm not sure anyone has an answer. including john boehner. he's got a major problem in his caucus. this has been the narrative going on for years. the decision between those who realize that both politically
saying the plan will improve the economy. the good question this morning is what's stopping lawmakers in the house from passing bipartisan reform? we want to bring in our gaggle now. liz from the associated press. aei visiting fellow, from the national review, bloomberg views. and democratic strategist chris is here as well. let's start with immigration if we can very quickly. i want to get a sense from you off the bat. was it the -- >> i think there's no question that supporters are...
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Jun 21, 2013
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i'll worry about the economy more than a few times before they're grown. but it's for them, so i've found a way. who matters most to you says the most about you. at massmutual we're owned by our policyowners, and they matter most to us. ready to plan for your future? we'll help you get there. rescue workers have opened up a lot of dawn. ♪ they rely on it because it's tough on grease yet gentle. but even they'll tell you, dawn helps open... all: 3, 2, 1! [ male announcer ] ...something even bigger. this year, dawn is also donating $1 million to rescue efforts. go to facebook.com/dawnsaveswildlife. find out how the little things you do can make a big difference. >>> a half hour from now, president obama is going to be announcing the nomination of james comey to lead the fbi, best remembered in the debate over domestic surveillance, as acting attorney general under george w. bush. comey's reputation, though, is a fierce defender of the law, holds perhaps more relevance today as the nsa's once secret programs come under fire from republicans and democrats al
i'll worry about the economy more than a few times before they're grown. but it's for them, so i've found a way. who matters most to you says the most about you. at massmutual we're owned by our policyowners, and they matter most to us. ready to plan for your future? we'll help you get there. rescue workers have opened up a lot of dawn. ♪ they rely on it because it's tough on grease yet gentle. but even they'll tell you, dawn helps open... all: 3, 2, 1! [ male announcer ] ...something even...
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Jun 20, 2013
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how does the economy do if ben takes the stimulus away? >> i think if you see-- the key reaction is obviously going to be we're seeing in the equities and the stock market and the index and trading. the markets are going to drop. is that going to make business owners back away? that's something i'm worried about. if the stock market takes a big hit, and makes the business owners not want to keep doing what they're doing and it's moving the economy, moving the businesses, that's the concern. >> i see not so much the stock market, but the interest rates going straight up and mortgage rates are going straight up and that could have a negative consequence to the housing market and its recovery. what say you? >> i will agree with you wholeheartedly. and they start to take off a little bit and people are stepping in there and buying houses and the interest rates keep rising, that's going to make it tough on those guys, too. >> a number of issues could hurt us going forward, something to be concerned with. >> you better turn around and get to tra
how does the economy do if ben takes the stimulus away? >> i think if you see-- the key reaction is obviously going to be we're seeing in the equities and the stock market and the index and trading. the markets are going to drop. is that going to make business owners back away? that's something i'm worried about. if the stock market takes a big hit, and makes the business owners not want to keep doing what they're doing and it's moving the economy, moving the businesses, that's the...
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Jun 19, 2013
06/13
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of course, that depends on the economy and that the economy sticks to the script that the fed believes it will and, you know, that's most likely economic sen scenario and interest rate path. >> mark, what do you think of the timetable? do you think the economy is ready to have the training wheels come off? >> yeah, i do. you know, i think that by late this year, the fiscal head winds, the tax increases and spending cuts will begin to fade that will let the better private economy shine through that is a long narrative in story but i think it is the best and most likely story and yes, at that point i think it makes sense to start tapering qe ending and starting to raise interest rates. >> if the economy is getting better which allows the tapering of the qe, why did the markets react so negatively? >> yeah, good question. you know, if you read sort of the fine print in the fomc statement, it was pretty hawkish. they dowed back their worries about the risks to the economy. they lowered their forecast for the unemployment rate. they even dismissed the lower inflation to be temporary. i thin
of course, that depends on the economy and that the economy sticks to the script that the fed believes it will and, you know, that's most likely economic sen scenario and interest rate path. >> mark, what do you think of the timetable? do you think the economy is ready to have the training wheels come off? >> yeah, i do. you know, i think that by late this year, the fiscal head winds, the tax increases and spending cuts will begin to fade that will let the better private economy...
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Jun 22, 2013
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unemployment needs to improve a little bit more and needs to be more growth in the economy. >> you talked about interest rates. that's a major concern for people, not just when it comes to mortgages, but student loans as well. >> everything you do is tied to the interest rate whether you like it or not. whether you have an existing loan or taking out a new loan. if you have a variable rate those could go up in the near term. they change with the market. if you have a fixed rate loan it stays the same. if you are taking on a new loan make sure you look closely at your mortgage. new mortgages, they also move with the market. we are seeing a 30-year fixed at nearly 40%. it's climbing. if you want take out a new mortgage, it's narrowing. credit cards, student loans, auto loans, other types of debt are tied to the federal reserve. those rates are likely to stay low. if you don't need one, don't rush to get one. >> good advice. as we look ahead to the week a knee-jerk reaction. looking ahead to the week coming up would be calmer. >> one would hope but unfortunately, the market that we are in ri
unemployment needs to improve a little bit more and needs to be more growth in the economy. >> you talked about interest rates. that's a major concern for people, not just when it comes to mortgages, but student loans as well. >> everything you do is tied to the interest rate whether you like it or not. whether you have an existing loan or taking out a new loan. if you have a variable rate those could go up in the near term. they change with the market. if you have a fixed rate loan...
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more than 500 points lost in 48 hours as economists tell us that the economy is finally on the mend. what's going on here. rebecca jarvis leads us off. >> reporter: today's big drop is part of a roller coaster week for your money. the dow up or down triple digits every day. so what's driving the volatility? actually, good news. >> we are stronger, we are. our economy is getting better. >> reporter: the best month for existing home sales in three and a half years. and improvement in jobs. all of this means there's less need for this man, fed chairman ben bernanke to keep pumping billions into the system. >> the easiest way to say is that we have had training wheels on our economy for quite some time now and now we're getting word that these training wheels are going to have to come off, slowly come off and we're going to see if we >> reporter: the uncertainty also leading to higher mortgage rates, now above four percent for the first time in a year. but still some of the cheapest borrowing in history. for example, in california, the turnbull family can buy their dream home for about $
more than 500 points lost in 48 hours as economists tell us that the economy is finally on the mend. what's going on here. rebecca jarvis leads us off. >> reporter: today's big drop is part of a roller coaster week for your money. the dow up or down triple digits every day. so what's driving the volatility? actually, good news. >> we are stronger, we are. our economy is getting better. >> reporter: the best month for existing home sales in three and a half years. and...
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the economy soon is going to have to prove itself by itself. ben bernanke said in his wednesday press conference the fed would likely end its purchase of bonds next year. remember we're talking about billions an billions of bond purchases every month. that news should drive interest rates, particularly mortgage rates up. as for the effect of equities, let's get right to kayla tausche who is live at cnbc world headquarters. >> hey, scott. futures are lower this morning following yesterday's sell-off. stocks, bonds, both slammed by comments from federal reserve chairman ben bernanke. speaking about when the central bank may end its economic stimulus program, reacting the disappointing data about china's economy and the manufacturing sector. here today we have reports on unemployment, manufacturing and housing. the dow dropping 206 points to 15,112 the nasdaq losing 38 to 3,433. >> we'll keep an eye on it with updates throughout the day. you remember john mcafee, the eccentric millionaire chazed through gaut mall land belize, a person of interest
the economy soon is going to have to prove itself by itself. ben bernanke said in his wednesday press conference the fed would likely end its purchase of bonds next year. remember we're talking about billions an billions of bond purchases every month. that news should drive interest rates, particularly mortgage rates up. as for the effect of equities, let's get right to kayla tausche who is live at cnbc world headquarters. >> hey, scott. futures are lower this morning following...
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>>> and why kate and william's royal baby may mean of a big boost for the economy. that is tonight. >>> from washington, this is "nightline," with terry moran. >>> good evening everyone, the day the soprano's pilot first aired, the day james gandolfini became a household name. well, today is the day we lost that vanguard forever. >> reporter: sometimes an actor finds a role that just connects. the role of a lifetime. james gandolfini, who died suddenly today at 51 was tony soprano. for 86 episodes over six seasons on hbo, gandolfini seared america's eyeballs with the portrayal of the man capable of staggering violence. with news of an apparent heart attack while he was in italy, the world has lost not only a very talented actor but also a cultural icon. but success was a long time coming for gandolfini. >> i had such anger, when you're young, a lot of people have anger, you're pissed, you're not sure why. that is probably why you are all sitting here. you want to express something, you don't know what it is. >> reporter: gandolfini began his career playing cold-hear
>>> and why kate and william's royal baby may mean of a big boost for the economy. that is tonight. >>> from washington, this is "nightline," with terry moran. >>> good evening everyone, the day the soprano's pilot first aired, the day james gandolfini became a household name. well, today is the day we lost that vanguard forever. >> reporter: sometimes an actor finds a role that just connects. the role of a lifetime. james gandolfini, who died suddenly...
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Jun 20, 2013
06/13
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>> you are asking the question, can the economy stand on its own without ben? that remains to be seen. the dow jones average is going to open 120 points lower, and that will be in 15 minutes. it dropped 200 yesterday. interest rates are going straight up. a quarter point higher on basic interest rate. that doesn't sound like much. but in the financial world that is huge. and the price of gold is flat out falling out of bed it's down $80 an ounce. martha: gold has had a huge run. bill: tea party supporters hitting back at washington. >> anybody want to fire some irs agents? bill: that 15 minutes senator rand paul. he wants people fired. we'll ask him who's talking about when we talk to him live this hour. martha: is an nfl start focus of a murder investigation? he has been accused of another act of violence. bill: two men who investigated twa flight 800 ... >> i saw what appeared to be keep in fireworks. >> i noticed a streak of light go up in the sky. >> there was something going up in the sky. >> this rocket weren't up in the air. >> i saw this white light. >>
>> you are asking the question, can the economy stand on its own without ben? that remains to be seen. the dow jones average is going to open 120 points lower, and that will be in 15 minutes. it dropped 200 yesterday. interest rates are going straight up. a quarter point higher on basic interest rate. that doesn't sound like much. but in the financial world that is huge. and the price of gold is flat out falling out of bed it's down $80 an ounce. martha: gold has had a huge run. bill: tea...
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Jun 19, 2013
06/13
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economy. where should you be investing in what should be your priority when it comes to saving for retirement. should your kids education topped the list. exclusive tips after the break. at a dry cleaner, with a machi. we replacee what? customers didn't like it. so why do banks do it? hello? hello?! if your ba doesn't let you talk ta al pern 24/7, you need an ally. hello? ally bank. your mey needs an ally. i work for7 dierent companies. well, technically i work for one. that company, e united states postal service® works for thounds of home businesses. because at usps.m® you can pay, print and have your packages picked up for free. i can even drop off free boxes. i wear a lot of hats. well, chnically i wear one. the u.s. postal service®, no business too sml. vo: ta friend under water is end something completely different.t well, chnically i wear one. i met a turtle friend today so, you don't get that very often. it seemed like it was more than happy to have us in his home. so beautiful. avo
economy. where should you be investing in what should be your priority when it comes to saving for retirement. should your kids education topped the list. exclusive tips after the break. at a dry cleaner, with a machi. we replacee what? customers didn't like it. so why do banks do it? hello? hello?! if your ba doesn't let you talk ta al pern 24/7, you need an ally. hello? ally bank. your mey needs an ally. i work for7 dierent companies. well, technically i work for one. that company, e united...
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Jun 20, 2013
06/13
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that's good for the economy too. i don't think we've absorbed just how good for the american economy having some predictability in our immigration policy is. i'll tell you, there's a famous latino boxer who started a company to do home loans. why? why? because he actually figured out that if suddenly people who are here and know they can stay here, what are they going to do? they're going to buy a house. he wants to be first in line to help them get that loan. that's the kind of economic activity that i would hope to see as a result of immigration reform. we ought to be talking about that instead of talking about border, fences, security. >> oh, why. border security. we have to leave it there and pick it up another time. >> thank you. >>> up next, oh, the anticipation. supreme court, why do you tease us so? ♪ anticipation is making me wait ♪ wait♪ ♪ >>> it is the most important decision the supreme court justice has made all week. justice samuel alito decided to throw the first ball in last night rangers' gam
that's good for the economy too. i don't think we've absorbed just how good for the american economy having some predictability in our immigration policy is. i'll tell you, there's a famous latino boxer who started a company to do home loans. why? why? because he actually figured out that if suddenly people who are here and know they can stay here, what are they going to do? they're going to buy a house. he wants to be first in line to help them get that loan. that's the kind of economic...
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Jun 20, 2013
06/13
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KQED
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this is singapore's central business district, the poor sink -- pulsing heart of singapore's economy, but today, you see the building stranded and smoke. there is a dry, accurate taste in the air. you can feel it in the back of your throat. -- there's a dry, accurate -- there's a dry, acrid taste in the air. his is where the fumes are coming from. hotspots on the indonesian island of sumatra where farmers use/and burn techniques to clear the land -- use slash and burn techniques to clear the land. >> ideally, we would like the fires to be put out. if any of these fires were illegally started, then whoever is responsible for them to be brought to justice. for the long term, what we need to do is cooperate with the indonesians as we have been to work on developing sustainable agricultural practices. >> the cost of the smog is yet to be counted, but it could be in the billions. had economichaze costs estimated at more than $9 billion and reportedly made 20 million people ill across the region. looks ugly there in singapore. you are watching "bbc world news america." still to come -- what
this is singapore's central business district, the poor sink -- pulsing heart of singapore's economy, but today, you see the building stranded and smoke. there is a dry, accurate taste in the air. you can feel it in the back of your throat. -- there's a dry, accurate -- there's a dry, acrid taste in the air. his is where the fumes are coming from. hotspots on the indonesian island of sumatra where farmers use/and burn techniques to clear the land -- use slash and burn techniques to clear the...
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Jun 22, 2013
06/13
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CNNW
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economy can stand on its own. that means the u.s. economy is healing. but then you have nagging concerns about the rest of the world. a recession in europe, china's growth appears to be slowing. the global worries are one reason why stock investors are so concerned about a pull-back from the fed right now. >> this is a classic case of heads you win, tails i lose. it doesn't matter what bernanke would have said, the markets are ready to fall out of bed. it's per ververse, it's obscure it's childish, it's all those things. but here's the reason. because investors have gone for exotic emerging markets with very narrow exits. of course, when things start to change, they all head for the door at the same time. you're absolutely right. the mere fact that he will be taking his foot off the gas is because the car is going fast enough on its own. so you have to put it into context. do i think we should be concerned? the hiccup, bucolic plague of the last week. absolutely not. the market knew it was coming and they're just having a nasty bout of indigestioindiges
economy can stand on its own. that means the u.s. economy is healing. but then you have nagging concerns about the rest of the world. a recession in europe, china's growth appears to be slowing. the global worries are one reason why stock investors are so concerned about a pull-back from the fed right now. >> this is a classic case of heads you win, tails i lose. it doesn't matter what bernanke would have said, the markets are ready to fall out of bed. it's per ververse, it's obscure it's...
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Jun 21, 2013
06/13
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KNTV
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when the fed says we're going to pull some of our support because the economy's doing better, that means interest rates may go up. if you're buying a car or sending a kid to college or, as you note, if you're buying a home. the housing market has been doing pretty well. take a look at the may numbers. 5 million homes sold in the month of may. that's up 4% from a month earlier. up almost 13% from a year earlier. the median home sale price right now for existing homes is $208,000. that's up 15% year over year. in fact, we've seen double-digit increases for six months in a row. so the market is correcting itself to help sellers. it had been a buyers' market for so long. what we're waiting to see this morning is what is going to happen on wall street. are we going to see what we've seen in europe so far this morning and with the nikkei? are they going to rally? or are we looking at a third straight day of losses? >> i hope it's not a third straight day. thank you so much. >>> and then there were six. the jury is seated in george zimmerman's second degree murder trial and his fate is in the h
when the fed says we're going to pull some of our support because the economy's doing better, that means interest rates may go up. if you're buying a car or sending a kid to college or, as you note, if you're buying a home. the housing market has been doing pretty well. take a look at the may numbers. 5 million homes sold in the month of may. that's up 4% from a month earlier. up almost 13% from a year earlier. the median home sale price right now for existing homes is $208,000. that's up 15%...
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Jun 21, 2013
06/13
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bernanke said the economy is getting better so we'll stop buying bonds and plowing money into the economy. people said we've been used to this for five years. the fed is propping up the economy. >> interest rates will go up. >> they are. 2.4% today which is high compared to where it's been recently, historically low but high to where it's been. >> is there any sensible rational or is it taking money because they are greedy pigs? >> your phrase. there is never any sense to what wall street does, never. i said that before on this program. >> abby huntsman, do you have anything to say about the global economy? >> absolutely. i'm an expert on anything finance. the stock market goes up and down every day based on the news. i think to bring it back down to every indication shows we are moving in the right direction you look at the housing market, the confidence in consumers, those are all positive signs. >> this is why i love abby huntsman because she's a republican that will admit the economy is going under the right direction under obama's watch. one piece of news that might become problemati
bernanke said the economy is getting better so we'll stop buying bonds and plowing money into the economy. people said we've been used to this for five years. the fed is propping up the economy. >> interest rates will go up. >> they are. 2.4% today which is high compared to where it's been recently, historically low but high to where it's been. >> is there any sensible rational or is it taking money because they are greedy pigs? >> your phrase. there is never any sense...
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Jun 22, 2013
06/13
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a growing economy. the idea that a lot of excess money will flow into the market, of course, scares -- that it will stop happening scares market participants. >> another surprise out of the news conference, moving the goalpost. when the jobless rate hit 7% the fed will likely pull back. we're at 7.6%. explain how lower unemployment could lead to negative results for the market. >> well, it's one of these things where if things go up too fast in terms of the economy then the market participants, in particular those institutions who have now become reliant on monetary policy to drive stocks they may force mr. bernanke to become more aggressive and take the pedal off and put pressure off the pedal and start to taper a little bit. faster. i think that's what most people are worried. we think it's nonsense. fundamentals drive stocks and we're in the mid of a grand transition from dependency on monetary policy to dependency onfuls and we think there's volatility along the way. >> you might be right. volatilit
a growing economy. the idea that a lot of excess money will flow into the market, of course, scares -- that it will stop happening scares market participants. >> another surprise out of the news conference, moving the goalpost. when the jobless rate hit 7% the fed will likely pull back. we're at 7.6%. explain how lower unemployment could lead to negative results for the market. >> well, it's one of these things where if things go up too fast in terms of the economy then the market...
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Jun 21, 2013
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china is now the second largest economy in the world. back to you. >> all right, tom costello in our d.c. bureau tonight. tom, thanks. >>> now what could be a big breakthrough in a long and drawn out but urgent fight over immigration reform going on in congress. a compromise on border security. this one has the potential to garner overwhelming support in the senate. kelly o'donnell following things all day has our report from the hill tonight. kelly, good evening. >> reporter: good evening, brian. what the senate is working on could bring about the biggest political and cultural change we have seen in the last 30 years. anything that big is hard to achieve. today it feels like a momentum shift that is intended to bring along more republican support. the southern border with mexico is only one way undocumented immigrants gain entry into the u.s., but it's the biggest roadblock to my political solution. >> we need to fix this. and this is our chance to fix it. >> reporter: congress is wrestling with how to grant legal status to students li
china is now the second largest economy in the world. back to you. >> all right, tom costello in our d.c. bureau tonight. tom, thanks. >>> now what could be a big breakthrough in a long and drawn out but urgent fight over immigration reform going on in congress. a compromise on border security. this one has the potential to garner overwhelming support in the senate. kelly o'donnell following things all day has our report from the hill tonight. kelly, good evening. >>...
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Jun 21, 2013
06/13
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KRCB
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economy and the world economy go cold turkey on all this easy money, and they-- nobody wants to be the last guy out of the market. and so they reacted very-- very swiftly, more than than i suspect the fed anticipates. >> brown: james pawlzen, is it a surprise. everyone knew at some point the fed would do this. >> i don't think so. i think that part of the big response that david speaks to has to do with the fact we've come up so much i think in the last year. we had a really big run, 25%, 30% run. often in big bull markets you have very violent but short-term sort of pull-backs and i think this was a catalyst that allowed traders to sell, the excuse to sell. i do think that people calm down a little bit, we adjust to little higher bond yields we're seeing in the last few days as the fed stops buying many as many bonds. i think we'll calm down and realize that the fed's real message is that the economy to them is looking a little better, and they think for the first time the economy is get along with a little less support from them all on its own as an equity investor that's probably a
economy and the world economy go cold turkey on all this easy money, and they-- nobody wants to be the last guy out of the market. and so they reacted very-- very swiftly, more than than i suspect the fed anticipates. >> brown: james pawlzen, is it a surprise. everyone knew at some point the fed would do this. >> i don't think so. i think that part of the big response that david speaks to has to do with the fact we've come up so much i think in the last year. we had a really big...
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Jun 22, 2013
06/13
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if we see interest rates go up, what does that do to the market and it to the economy? >> that's your real danger. a few weeks al ago, 1.6% on a government bond and now 2.5%. who cares. you try to get a mortgage six to eight weeks ago, you could you have gotten it at 3%. now it's pushing 4%. that's a big difference in how you value a home. so this is the market behaving. this isn't the federal reserve. that's bigger than the federal reserve. if it continues and we go to another percent up rapidly, you're going to see housing prices start to go down again and the recovery ending 37 so we don't want to go too far. but i do think a little was good because it was taking the heat off the stock markets. and we don't want artificially low rates, but they deserve rates at about today's level. >> john mayfield, does that worry you, the housing market is one of the few positives in the economy right now. >> yeah, but i don't think rates will go up significantly for a matter of time. you understand to dave's point that 8% was the benchmark brought up by the administration. give us
if we see interest rates go up, what does that do to the market and it to the economy? >> that's your real danger. a few weeks al ago, 1.6% on a government bond and now 2.5%. who cares. you try to get a mortgage six to eight weeks ago, you could you have gotten it at 3%. now it's pushing 4%. that's a big difference in how you value a home. so this is the market behaving. this isn't the federal reserve. that's bigger than the federal reserve. if it continues and we go to another percent up...
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Jun 20, 2013
06/13
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, the real economy, forget about the market economy. the real economy is supposed to be getting better. and he's indicated that there's a couple of different metrics that he's looking for. employment being one of those metrics. and he's not going to be doing anything until things do get better. at least he says materially what that means, we don't know. a number of analysts out there interpreting his words in very different ways. some of this quantitative easing could stop as early as september. others saying, by the way, this could go on into 2014. and by the way, if that happens, it could be after bernanke's term which, as i know you've talked about, may be over soon and may get handed off to the next guy. >> that's the key takeaway. if the fed pulls back, the economy may be okay enough to stand on its own two feet but it may not be good for markets because free money might end. real quickly, again for the viewer out there, the stock sell-off, but so do bonds and people sell gold. so are people just -- is this stuffing money under the
, the real economy, forget about the market economy. the real economy is supposed to be getting better. and he's indicated that there's a couple of different metrics that he's looking for. employment being one of those metrics. and he's not going to be doing anything until things do get better. at least he says materially what that means, we don't know. a number of analysts out there interpreting his words in very different ways. some of this quantitative easing could stop as early as...
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Jun 20, 2013
06/13
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he predicts the economy is looking up and unemployment will drop to 7%. so he says it may no longer be needed. >>> the federal reserve announcement sent stocks tumbling. the dow dropped 206 points. >>> a free concert featuring michelle shock is a no-go. today the publisher of the san francisco examiner confirmed the june 30th show, which is the day of the city's lgbt pride parade has been canceled. many people were furious about the plan to let her play after she went on an antigay rant at a concert in march. >>> and the announcement today that actor james gandolfini died stunned many of his fans and the entertainment industry. >> yeah, i know. but i'm talking to you here on a human level. >> reporter: actor best known for playing tony soprano died while on vacation in rome. according to the network, the possible cause was a heart attack. fans were shocked to hear about his death. >> he was incredibly gifted, and he was very, very sharing of his art. and he is going to be missed. >> reporter: the actor rose to fame in his late 30s when the sopranos debute
he predicts the economy is looking up and unemployment will drop to 7%. so he says it may no longer be needed. >>> the federal reserve announcement sent stocks tumbling. the dow dropped 206 points. >>> a free concert featuring michelle shock is a no-go. today the publisher of the san francisco examiner confirmed the june 30th show, which is the day of the city's lgbt pride parade has been canceled. many people were furious about the plan to let her play after she went on an...
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Jun 20, 2013
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economy. where shou you be investing in what should be your priority when it comes to saving for retirement. should your kids education topped the list. exclusive tips after the break. at a dry cleaner, with a machine. we replacee what? customers didn't like it. so why do banks do it? hello? hello?! if your bank doesn't let you talk to a real person 24/7, you need an ally. hello? ally bank. your mon needs an ally. if you have hi cholesterol here's some information that may be worth looking into. in a clinical trial versus lipitor crestor got more hi-risk patients' bad cholesterol to a goal of under 100. getting to goal is important, especially if you have high cholesterol plus any of these risk factors because you cod be at creased sk for plaque budup in your arteries over time. and that's why when diet and exercise alone aren't enough to lower cholesterol i prescribe crestor. [ female announr ] crestor is not right for evyone. like people with liver disease or women who are nursing, pregnant
economy. where shou you be investing in what should be your priority when it comes to saving for retirement. should your kids education topped the list. exclusive tips after the break. at a dry cleaner, with a machine. we replacee what? customers didn't like it. so why do banks do it? hello? hello?! if your bank doesn't let you talk to a real person 24/7, you need an ally. hello? ally bank. your mon needs an ally. if you have hi cholesterol here's some information that may be worth looking...
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Jun 20, 2013
06/13
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KPIX
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that stimulus program pushed the stock market to all-time highs but bernanke says the economy is looking up and predicts unemployment will drop to 7% so he says that stimulus might not be needed anymore. >>> best buy is recalling replacement batteries for the macbook pro laptop. the battery can apparently catch fire. so far, there have been more than a dozen reports of this happening. one person suffered a serious burn on the leg. the atg lithium ion batteries were sold between 2008 and 2012. >>> a major donut chain is about to roll out gluten-free products. dunkin' donuts says it plans to offer them in cinnamon sugar and blueberry muffins by the end of the year. about 1% of americans have celiac disease. even small amounts of gluten can prompt severe discomfort so now they can have donuts. >>> key players are saying little about the firing of men's warehouse founder and pitchman george zimmer. >> you'll like the way you look, i guarantee it. >> we have seen those ads for years. the corporate chain with offices in fremont made a statement yesterday. they haven't said why they fired the e
that stimulus program pushed the stock market to all-time highs but bernanke says the economy is looking up and predicts unemployment will drop to 7% so he says that stimulus might not be needed anymore. >>> best buy is recalling replacement batteries for the macbook pro laptop. the battery can apparently catch fire. so far, there have been more than a dozen reports of this happening. one person suffered a serious burn on the leg. the atg lithium ion batteries were sold between 2008...
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Jun 19, 2013
06/13
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a lot of that, ben bernanke seem to think the economy is improving enough they can take some of that nicotine away. whether that is good or bad in the long term. very short term, they didn't like it. we're going to be all over it in a few minutes. in the meantime, we are also following these developments, not the least, the fallout on heavily and where it goes and more specifically on this immigration plan and where it is not going. stick around. [ male announcer ] we've been conditioned to accept less and less in the name of style and sophistication. but to us, less isn't more. more is more. abundant space, available leading-edge technology, impeccable design, and more than you've come to expect from a luxury vehicle. the lexus es350 and epa-estimated 40 mpg es hybrid. this is the pursuit of perfection. >>. >> neil: you know they knew this day was coming but the reality is sinking is by day's end sending stocks sinking. dow off 206 points off of indications, that ben bernanke has finally has a plan or quasi plan to pull the punch bowl away the tapering of the bond buying and mortgag
a lot of that, ben bernanke seem to think the economy is improving enough they can take some of that nicotine away. whether that is good or bad in the long term. very short term, they didn't like it. we're going to be all over it in a few minutes. in the meantime, we are also following these developments, not the least, the fallout on heavily and where it goes and more specifically on this immigration plan and where it is not going. stick around. [ male announcer ] we've been conditioned to...
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Jun 21, 2013
06/13
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point, word from the federal reserve chairman that chief borrowing will soon come to an end as the economy continues to improve. but as cnbc's maria bartiromo points out, there may be a silver lining. >> every time we've seen a sell-off of 5%, a lot of people were expecting a correction of 5% -- each time we've seen that, that selling has been met by buyers. they call it the so-called buy on the dip mentality. >> well, nbc's tracie potts is live in washington with all the details, including what all this means for homeowners. tracie, good morning. >> key point, mara. good morning, everyone. the impact of all this, maybe you're not heavily involved in the stock market, but if you're trying to buy a home, we've already seen interest rates start to creep up. they will likely creep up even more as the fed starts to pull back its support. that means you could have less for your money in terms of trying to buy a home. but take a look at what the housing market has been doing, self-correcting. in may, 5 million homes were sold. that's up about 4% in a month, up almost 13% in a year. the median ho
point, word from the federal reserve chairman that chief borrowing will soon come to an end as the economy continues to improve. but as cnbc's maria bartiromo points out, there may be a silver lining. >> every time we've seen a sell-off of 5%, a lot of people were expecting a correction of 5% -- each time we've seen that, that selling has been met by buyers. they call it the so-called buy on the dip mentality. >> well, nbc's tracie potts is live in washington with all the details,...
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Jun 20, 2013
06/13
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we want the economy to get better. the problem is, is that the quantitative easing has at some point got to go away. >> what they call the stimulus. kr yeah. winding down on that. >>> two big stories. of course, you see the dow which has to deal with your wallet. then the story people have been following here for a year now. just a little bit more information before we go to break here. as i said, jury has been selected in the george zimmerman trial. just to tell you about this jury, it's a six-person jury to hear the case of george zimmerman. it's been chosen. it consists of six women, we are told. there are no men. no men on this jury. four of them are white, one is black. the race of the only woman -- the race of the one lady is unknown. we're not exactly sure what it is. again, four white, one black. i'm not exactly sure of one. four alternates being chosen right now. more on this developing story when we come right back. i don'without goingcisions to angie's list first. with angie's list, i know who to call, and i
we want the economy to get better. the problem is, is that the quantitative easing has at some point got to go away. >> what they call the stimulus. kr yeah. winding down on that. >>> two big stories. of course, you see the dow which has to deal with your wallet. then the story people have been following here for a year now. just a little bit more information before we go to break here. as i said, jury has been selected in the george zimmerman trial. just to tell you about this...
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Jun 20, 2013
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stock market isn't the economy. the economy is not the stock market. mortgage price is an issue. bond sales are falling. that pushes interest rates up, john and laura. you'll pay about $200 more a month now on a $600,000 house than a couple months ago because interest rates have been creeping up. we've expected this fed move. >>> good news, shorter loans. student loans, credit cards, that kind of thing. too geeky to get into. short-term loans, those will be okay for quite some time. >>> 6:56 right now. today in north park it is safe to say the force will be with you out there. community leaders officially opening imagination park this afternoon. it includes the unveiling of a pronz statue of the always wise jedi master yoda. filmmaker george lucas donating the land to build the park in the community gathering center. that nice hat worn by indiana jones, a life size statue also being unveiled. >> i could use yoga, by the way, mice back is killing me. >> like it we do. let's check the forecast now with christina. >> we've got a good looking day shaping up. temperatures today are go
stock market isn't the economy. the economy is not the stock market. mortgage price is an issue. bond sales are falling. that pushes interest rates up, john and laura. you'll pay about $200 more a month now on a $600,000 house than a couple months ago because interest rates have been creeping up. we've expected this fed move. >>> good news, shorter loans. student loans, credit cards, that kind of thing. too geeky to get into. short-term loans, those will be okay for quite some time....
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Jun 15, 2013
06/13
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economy? >> i don't know. i would be a little bit more careful than keith and say let's move all the policy and remove ben bernanke's presence in the economy. the fed has done an extremely important role in the past several years of lessening the impact of this recession. it was a real meltdown we were experiencing in '08. what we are seeing now is an economy that's still heelialing from this deep recession. the housing market is looking better, auto production sales are picking up. some of the most cyclical parts of the economy are showing strength. i think we are on the beginning, in the beginning stages of that. what would worry me is that if you take away this fed policy too easily and create a big spike in interest rates, costs go up. two of the sectors that are performing the best, housing and auto, could start to suffer. i think you have to be very careful when you are this i go about policy prescriptions for the economy. >> what you are both illustrating to me was the word of the week, taper. it is no
economy? >> i don't know. i would be a little bit more careful than keith and say let's move all the policy and remove ben bernanke's presence in the economy. the fed has done an extremely important role in the past several years of lessening the impact of this recession. it was a real meltdown we were experiencing in '08. what we are seeing now is an economy that's still heelialing from this deep recession. the housing market is looking better, auto production sales are picking up. some...